Sustainability Al Jaber calls on G20 to double climate risk finance Cop28 president Sultan Al Jaber and United Nations climate executive secretary Simon Stiell urged the G20 this week to increase funding known as “adaptation finance”, for communities at risk of facing climate change-related hazards. “The G20 must affirm its commitment to [mobilising] the fund and funding arrangements. Those at the frontline of climate change need […] July 28, 2023
Infrastructure Carbon targets deter Middle East power project developers Developers are becoming increasingly wary of bidding for long-term infrastructure deals in the Middle East because the terms go beyond their own carbon neutral targets. According to industry sources they are particularly struggling to be able to work on projects involving thermal power plants without carbon capture and storage (CCS) because the terms can stretch […] July 27, 2023
Banking and Finance Abu Dhabi asset manager plans $250m carbon fund Offset8 Capital, an Abu Dhabi asset management company, is planning to raise $250 million for a carbon investment fund focused on financing climate mitigation and adaptation projects. Proposed investments will aim to support local communities in Africa and Southeast Asia on projects involving mangrove restoration, reforestation and biochar. Offset8, which is based in the financial […] July 27, 2023
Sustainability Abu Dhabi ramps up its climate action strategy The Abu Dhabi Environment Agency (EAD) has outlined its plans for the emirate’s climate change strategy. The EAD’s five-year plan aims to reduce the UAE capital’s emissions by 22 percent from 2016 levels by strengthening its efforts to achieve greater environmental resilience and climate neutrality, and attracting investment as part of a sustainable economy. EAD […] July 25, 2023
Opinion Sustainability Climate change is too serious to be left to environmentalists The debate is now about means, not ends July 25, 2023
Opinion Sustainability Iran is running out of water, with little sign of progress During the winter months, snowfall carpets the Alborz mountains that loom over Tehran, sending millions of gallons of water through the capital’s roadside drains known as jubes and world-famous qanat systems of underground aqueducts. Across the country, a series of naturally occurring lakes and rivers combined with reservoirs and dams combine to trap the snowmelt. […] July 24, 2023
Sustainability UAE sets up centre to decarbonise shipping sector The UAE will set up a maritime decarbonisation centre to set a new global standard for maritime decarbonisation. The UAE Maritime Decarbonisation Centre will be the first of its kind in the Middle East and North Africa and the fourth globally, UAE state-run Wam news agency reported, citing a statement from the ministry of energy […] July 24, 2023
Banking and Finance Middle East wealth funds wary of greenwashing Almost three-quarters of sovereign wealth funds in the Middle East are investing in renewable energy, although most have concerns about potential greenwashing. The latest Invesco Global Sovereign Asset Management Study found that 71 percent of Middle East sovereign wealth funds were investing in renewables. Many funds are doing so as part of a commitment to […] July 21, 2023
Opinion Agriculture Cop28 must advance urban agriculture to cut emissions The summit in Dubai should advance agricultural technology to mitigate climate change July 20, 2023
Analysis Sustainability Huge gap in sustainability funding for developing countries Developing countries including those in the Middle East face a combined annual $2.2 trillion investment shortfall in meeting sustainability and energy transition goals set by the United Nations. The UN Conference on Trade and Development (Unctad)’s World Investment Report 2023, published this month, says that globally an annual $4 trillion of investment is needed to […] July 17, 2023
Opinion Sustainability The UAE has a difficult path to negotiate As Cop28 host and a major oil exporter the Emirates faces a tricky balancing act July 17, 2023
Sustainability Jordan gets $250m funding to tackle water crisis Jordan has received $250 million funding from the World Bank to improve its water services efficiency. The funds will be used to rehabilitate water distribution networks, improve energy efficiency and strengthen the country’s drought management system, the World Bank said in a statement. An estimated 1.6 million people are set to benefit from the improved […] July 17, 2023
Sustainability Abu Dhabi seeks proposals for new desalination plants State-owned Emirates Water and Electricity Company (EWEC) has issued a request for proposals (RFP) to develop the new Abu Dhabi islands reverse osmosis (RO) desalination plants. The Abu Dhabi Islands RO independent water project consists of two standalone greenfield low-carbon seawater desalination plants on Saadiyat and Hudayriat islands. Both plants will provide a combined 100 […] July 7, 2023
Sustainability Dubai opens $1bn waste-to-energy centre The first phase of the AED4 billion ($1.09 billion) Dubai Waste to Energy Centre has become operational. Two of the plant’s five lines have been launched and are currently processing about 2,300 tonnes of solid waste daily, the UAE state-run WAM news agency reported. At present, the facility in the Warsan area generates about 80 […] July 5, 2023
Renewable Energy UAE pledges $54bn for renewable energy The UAE has vowed to treble its renewable energy investment over the next seven years, investing up to AED200 billion ($54 billion) as climate experts warn the world is losing the race to reduce global warming. The Emirati cabinet – chaired by Sheikh Mohammed bin Rashid Al Maktoum, the UAE prime minister and ruler of […] July 4, 2023
Opinion Sustainability Wanted: more action and less hot air In the "Year of Sustainability" every area of Gulf society must play their part now June 27, 2023
Opinion Sustainability The Gulf can spearhead sustainability through football The beautiful game is a formidable tool for increasing Arab soft power June 21, 2023
Sustainability Saudi companies buy carbon credits in Kenya auction Companies from Saudi Arabia bought more than 2.2 million tonnes of carbon credits on Wednesday as the Kenyan capital hosted what organisers have billed as the world’s largest sale of its kind. Demand for carbon offsets, generated through projects such as tree planting or using cleaner cooking fuel, is expected to grow as companies seek […] June 15, 2023
Sustainability UAE firm leads $15m funding for Indian EV startup River Dubai-based Al-Futtaim Automotive has led the $15 million investment round in the Indian electric two-wheeler startup River. The funding series will bolster River’s manufacturing and distribution networks for an August 2023 delivery kick-off in India, enabling the company to rapidly scale internationally. Paul Willis, president of Al-Futtaim Automotive, said the investment comes after the company […] June 11, 2023
Sustainability Fifa blamed for false claims on ‘green’ Qatar World Cup Soccer’s world governing body Fifa made false and misleading statements about the reduced environmental impact of the 2022 World Cup in Qatar, a Swiss regulator said on Wednesday. The Swiss Fairness Commission, the self-regulatory body of the advertising and communications industry, made its determination after investigating five claims that Zurich-based Fifa marketed the tournament as […] June 8, 2023
Video length: 1:57 EXCLUSIVE Sustainability UAE’s Al Suwaidi backs Al Jaber after Cop28 criticism Dr Sultan Al Jaber’s record “speaks for itself”, a senior UAE official has told AGBI. The Emirates government is facing fresh criticism from international media and lawmakers over the oil chief’s appointment to oversee the Cop28 climate summit later this year. Al Jaber oversees UAE oil giant Adnoc, is minister of industry and advanced technology […] June 6, 2023
Opinion Retail ‘Preloved’ retail is a vital step on the Gulf’s path to sustainability The Gulf's preference for brand new goods needs to change June 5, 2023
